Home / Knowledge / News / Apparel/Garments / Textile & apparel goods lead Vietnamese exports
Textile & apparel goods lead Vietnamese exports
06
Jul '10
After witnessing an aggregate growth of 30 percent in recent times, Vietnam has now become the 10th biggest textile and apparel exporters around the world, totaling for 2.7 percent of the international market.

Textiles and apparels industry are now leaders amongst key export goods of Vietnam, with an export turnover of US$ 4.8 billion in the first two quarters of 2010, which has gone up by 17 percent as against last year and it is also $1.4 billion over crude oil exports.

With US being Vietnam's biggest market, with a growth rate of 15 percent, falling second line is Japan with 10 percent. Following these are the new markets such as the Republic of Korea, ASEAN nations and Taiwan.

Vietnam's textile and apparel goods are second in line after China, within the US and Japanese markets. More so, Vietnamese businesses also have orders to be met with till the end of the year.

As per Chairman of the Vietnam Textile and Apparel Association, Le Quoc An, the chances of businesses meeting their targets and thereby, earn $10.5 billion, by the end of this year, seems quite possible.

But yet, the sector is faced with several problems, which are a result of the volatility of the financial market, workforce and raw material prices. Dearth in workforce is one of the key problems, which has been pressurizing the textile and apparel businesses.

Dearth in workforce has also threatened firms such as Nha Be Garment Company. According to Nguyen Ngoc Lan, member of Nha Be, despite having inked deals to export goods through the first quarters of 2011, dearth in workforce worries them.

Improving the productivity and surging labourer's salaries is the best way to ensure labourers remain within the firm for production of goods.

More so, the domestic apparel segment depends too much on imported materials. The segment's exports were valued at $4.8 billion in the first half of this year, but its purchase of raw materials amounted to $3.7 billion within the first five months, which had gone up by 33.5 percent as against last year.

But the apparel segment is struggling to manufacture more materials locally to ensure constant growth. Vietnam National Textile and Garment Group (Vinatex) is also intending to invest over VND 1,400 billion for developing a higher added-value for home-based goods.

Further more, to encourage local and international businesses to invest in manufacturing garments and textile materials, four apparel and dye centres will be set up in Ninh Binh, Long An, Tra Vinh and Nam Dinh provinces.

Fibre2Fashion News Desk - India


Must ReadView All

India much behind China in containerised cargo capacity

Textiles | On 18th Dec 2017

India much behind China in containerised cargo capacity

India’s total containerised cargo capacity of 8.75 million...

Vietnam’s textile & garment exports cross $26 bn till Nov

Textiles | On 18th Dec 2017

Vietnam’s textile & garment exports cross $26 bn till Nov

Vietnam earned $26.844 billion from textile and garment exports in...

Rotex Fabrics grows production with Bruckner stenters

Textiles | On 18th Dec 2017

Rotex Fabrics grows production with Bruckner stenters

The South African company, Rotex Fabrics, which is a knitter, dyer,...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

December 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.1%
No
13.8%
Skip
18.1%

Total Votes: 94

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.8%
No
29.8%
Skip
7.4%

Total Votes: 94

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
9.6%
Skip
3.2%

Total Votes: 94

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.9%
No
8.5%
Skip
9.6%

Total Votes: 94


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search